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Our Economic Stimulus Package

This is the second year that a president of the United States will pass a stimulus package, AKA recovery package, to help stimulate our economy. The big question remains, what exactly is a stimulus package and why do we need it? Our 2008 economic stimulus package is designed to push money into the sinking economy to try and jump start businesses so they can grow and flourish. Consequently, with the economy going downward, people are saving the money instead of purchasing goods. President Obama’s plan to stimulate our economy has a price tag of $550 billion dedicated to new projects and $275 billion in tax cuts.
Most people are aware of the personal checks they could receive as a part of the 2009 stimulus package. Eligible persons must have filed a tax return this year with at least $3000 in qualifying income. Qualifying individuals will receive between $300 and $600, joint filers will be eligible for between $600 and $1200 while eligible people with children will receive an additional $300 for each qualifying child. Although this will be a nice financial break, there is much more to this package that should help to improve the standing of our economy.
The “new projects” include funding to energy, science and technology, infrastructure, education and health care. Approximately $32 billion will go towards making our energy grid more efficient, $16 billion to repair public housing and make them more energy efficient and $6 billion to weatherize low-income homes. The science and technology departments will receive $10 billion for new scientific facilities and $6 billion to improve broadband internet access to rural areas. Over $90 billion will go to highway departments, water and flood control and public transit to improve all areas of our transportation system. Our education systems will be entitled to over $142 billion including $41 billion to local schools, $79 billion to prevent education...